Australasian home entertainment retail powerhouse JB Hi-Fi in on course for another strong financial year.

Chief executive Richard Uechtritz told the company's annual general meeting in Melbourne, Australia, yesterday that he expects sales across the group to hit the A$1.7 billion ($1.56 billion) mark in the 2007-08 financial year.

In August, JB Hi-Fi delivered a record profit of A$40.4 million ($37 million) for its 2006-7 year, with sales breaking through the $A1 billion ($0.91 billion) revenue barrier for the first time.

The publicly-listed company, which operates the JB Hi-Fi, Clive Anthony and Hill & Stewart brands in Australia and New Zealand, expects to finish the year with 104 stores. Of those, 81 are JB stores, which carry an extensive range of music, DVD and games software, along with computers and entertainment hardware.

"Comparative store sales continue to be double digit and we are confident about trading going into the Christmas and New Year period," Uechtritz says. "We have been pleased with the performance of our recently opened stores and are confident that they will contribute strongly to earnings over the coming years as they mature."

Chairman Patrick Elliott adds that one of the group's biggest strengths was its diversified product offering. While music and DVD were showing slower growth, he says both categories continue to provide constant foot traffic through the stores, driving sales in new product areas such as games software and computers.

The latter category last week received a major boost when the company won two gongs at the annual Apple Channel Reseller Awards evening. As well as being named iPod Reseller of the Year, JB won the 2007 Retailer of the Year award in recognition of the company's success in retailing a variety of Apple products.